Weekly Mexico Market Monitor
Friday AM, September 15, 2023
The FTSE-BIVA index closed on September 14 at 1,068.85 down slightly from its September 7 close at 1,078.59.
The MXN/USD exchange rate closed at 17.11 pesos to the dollar on September 14 significantly stronger than its close of 17.60 pesos on September 7.
The Mexican 10-year bond (2031) closed on Thursday with a yield of 9.604%, slightly up from a yield of 9.492% on September 7.
The FTSE-BIVA Top Stock Gainers for the week were: AXTEL (+20.31%), FUNO (+17.93%) and BBAJIOO (+5.92%) and the Biggest Losers were: TELEVISA (-13.73%), CEMEX (-9.83%) and HERDEZ (-4.70%).
CORPORATE & MARKET NEWS
Deacero will spend US $1 billion to build a new steel mill in Ramos Arizpe and strengthen the infrastructure of its existing plants. This investment will increase the company’s steel production by an additional 1.2 million tons annually.
Heineken Mexico, the Dutch brewery's subsidiary, will invest US $509.4 million in the construction of a plant in the Yucatán. They expect this to lead to the creation of two thousand direct jobs.
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